In the world of finance, an assignor is an individual who holds a policy and decides to transfer the ownership, benefits, and rights of said policy to another person. This transfer allows the new individual, known as the assignee, to take over the responsibilities and privileges associated with the policy. It is important for assignors to fully understand the implications of transferring their policy, as it can have significant financial ramifications. This concept is crucial to understand when navigating the complex world of finance.
